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Bitcoin Nears a Bottom Zone as On-Chain Data Cools

Bitcoin Nears a Bottom Zone as On-Chain Data Cools

Glassnode sees several signs that Bitcoin may be forming a bottom, but weak ETF flows and cautious derivatives trading are still keeping a real trend reversal out of reach. The MVRV Z-Score and long-term holders also point to ongoing bear market pressure.

Bitcoin is the first and largest cryptocurrency in the world.

Bitcoin was designed as digital money without a central party. The network uses blockchain technology and is often seen as a digital alternative to gold.